Poll: How much debt do you plan to exit law school with?

Share Your Experiences, Read About Other Experiences. Please keep posts organized by school and expected year of graduation.

How much are you going to owe?

ZERO $ in Debt
24
11%
25K
12
6%
50K
19
9%
75K
27
13%
100K
37
18%
150K
57
27%
200K
18
9%
200k+
15
7%
 
Total votes: 209

Roseland
Posts: 18
Joined: Mon Mar 02, 2009 11:20 pm

Poll: How much debt do you plan to exit law school with?

Postby Roseland » Wed Mar 31, 2010 10:42 pm

I am weighing my options and curious what the TLS crowd is thinking for themselves?

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Kiersten1985
Posts: 784
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Re: Poll: How much debt do you plan to exit law school with?

Postby Kiersten1985 » Wed Mar 31, 2010 10:47 pm

Including UG debt?

Roseland
Posts: 18
Joined: Mon Mar 02, 2009 11:20 pm

Re: Poll: How much debt do you plan to exit law school with?

Postby Roseland » Wed Mar 31, 2010 10:54 pm

Law School Only...the scale only goes to 200K!

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thickfreakness
Posts: 1056
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Re: Poll: How much debt do you plan to exit law school with?

Postby thickfreakness » Wed Mar 31, 2010 10:59 pm

Fortunately my wife will be able to cover the overwhelming majority of COL, so given my current scholarship options I'm thinking only around 50 to 60K if I can pay down a tad of it with 2L summer earnings.

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annapavlova
Posts: 203
Joined: Thu Mar 05, 2009 9:53 am

Re: Poll: How much debt do you plan to exit law school with?

Postby annapavlova » Wed Mar 31, 2010 11:00 pm

Oh good!

Another one of these threads.

Roseland
Posts: 18
Joined: Mon Mar 02, 2009 11:20 pm

Re: Poll: How much debt do you plan to exit law school with?

Postby Roseland » Wed Mar 31, 2010 11:03 pm

annapavlova wrote:Oh good!

Another one of these threads.


Glad I could help :D

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darknightbegins
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Re: Poll: How much debt do you plan to exit law school with?

Postby darknightbegins » Wed Mar 31, 2010 11:11 pm

I'm expecting 70K or so. Some of this depends if I get in state tuition rates after the first year in the state school I'll be going to. If I do get in state tuition that figure is closer to 50K. I have no undergrad debt so I am willing to go into more debt than 70K if necessary but I am not willing to go into six figure debt.

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MURPH
Posts: 854
Joined: Wed Dec 10, 2008 12:20 am

Re: Poll: How much debt do you plan to exit law school with?

Postby MURPH » Wed Mar 31, 2010 11:12 pm

GI Bill + Yellow Ribbon Scholarship + wife working + renting out my home in Honolulu while I move the family to law school somewhere on the continent + working summers and winter break = zero debt (maybe)

keg411
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Joined: Tue Apr 21, 2009 9:10 pm

Re: Poll: How much debt do you plan to exit law school with?

Postby keg411 » Wed Mar 31, 2010 11:22 pm

Chose 75k in the poll, but it will likely be somewhere between 50 and 75.

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kissy
Posts: 215
Joined: Wed Feb 24, 2010 4:08 pm

Re: Poll: How much debt do you plan to exit law school with?

Postby kissy » Wed Mar 31, 2010 11:27 pm

$0


thanks mom & dad

weis14
Posts: 48
Joined: Wed Dec 16, 2009 10:01 pm

Re: Poll: How much debt do you plan to exit law school with?

Postby weis14 » Wed Mar 31, 2010 11:30 pm

Took full scholarship offer to minimize debt. 50k or less COL.

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darknightbegins
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Re: Poll: How much debt do you plan to exit law school with?

Postby darknightbegins » Wed Mar 31, 2010 11:35 pm

kissy wrote:$0


thanks mom & dad


Very nice. My parents will likely help me pay off the debt once I get out of school if I really have a difficult time.

09042014
Posts: 18282
Joined: Wed Oct 14, 2009 10:47 pm

Re: Poll: How much debt do you plan to exit law school with?

Postby 09042014 » Wed Mar 31, 2010 11:38 pm

230 if I don't get any any paid firm jobs.

digitalcntrl
Posts: 153
Joined: Fri Oct 09, 2009 7:36 pm

Re: Poll: How much debt do you plan to exit law school with?

Postby digitalcntrl » Wed Mar 31, 2010 11:40 pm

$0

My employer pays for all of it.

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OperaSoprano
Posts: 4410
Joined: Tue Nov 25, 2008 1:54 am

Re: Poll: How much debt do you plan to exit law school with?

Postby OperaSoprano » Wed Mar 31, 2010 11:51 pm

$220k by my nearest guess. At any rate, a lot.

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pu_golf88
Posts: 210
Joined: Thu May 14, 2009 1:34 am

Re: Poll: How much debt do you plan to exit law school with?

Postby pu_golf88 » Thu Apr 01, 2010 12:05 am

I got lucky in the my parents have always been saving for me and my brother's education. Anything short of a Ph.D. I don't have to pay for.

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fl0w
Posts: 1404
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Re: Poll: How much debt do you plan to exit law school with?

Postby fl0w » Thu Apr 01, 2010 12:13 am

75k because of cost of living. can't really avoid it unless you're still attached to the teet.

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wadeny
Posts: 137
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Re: Poll: How much debt do you plan to exit law school with?

Postby wadeny » Thu Apr 01, 2010 12:16 am

I'm surprised by how many responded with $150K or less for the poll. Tuition is obviously high at most schools, but the COL is also insanely high. Unless people are opting for more lower-priced options, have a lot of $$$ saved up, are getting some good scholarships, etc., I have to imagine debt would creep closer to $200k in many cases. I guess not as much around here, though, which is great to see.

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Kim617
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Re: Poll: How much debt do you plan to exit law school with?

Postby Kim617 » Thu Apr 01, 2010 12:23 am

wadeny wrote:I'm surprised by how many responded with $150K or less for the poll. Tuition is obviously high at most schools, but the COL is also insanely high. Unless people are opting for more lower-priced options, have a lot of $$$ saved up, are getting some good scholarships, etc., I have to imagine debt would creep closer to $200k in many cases. I guess not as much around here, though, which is great to see.

I was expecting about $200,000, but then I got a nice offer today that will lower it to about $130,000, and I figure I could take a little off that number since I already have insurance, and I have awesome parents that will help with groceries and such, so maybe $120,000 total. Something like that.

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84Sunbird2000
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Re: Poll: How much debt do you plan to exit law school with?

Postby 84Sunbird2000 » Thu Apr 01, 2010 12:32 am

No more than 75k (unless I go to BU....). If I got a firm job 2L (I could do it for a summer without feeling like I'd sold my soul) and made 15-30k that year, then I could get out of IUB with 10-25k in debt. W&M I'm guessing 35-50k. W&L about 40k. Worst case, I could still make 3 or 4k during the summers with a PI fellowship.

I know that going to the best school you get (at sticker) is the TLS advice, but I like less than triple-digit debt prospects.

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A'nold
Posts: 3622
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Re: Poll: How much debt do you plan to exit law school with?

Postby A'nold » Thu Apr 01, 2010 12:34 am

84Sunbird2000 wrote:No more than 75k (unless I go to BU....). If I got a firm job 2L (I could do it for a summer without feeling like I'd sold my soul) and made 15-30k that year, then I could get out of IUB with 10-25k in debt. W&M I'm guessing 35-50k. W&L about 40k. Worst case, I could still make 3 or 4k during the summers with a PI fellowship.

I know that going to the best school you get (at sticker) is the TLS advice, but I like less than triple-digit debt prospects.


If you aren't planning on going into biglaw and want to go into public interest/gov. work, why on earth would you use 2L summer $ to pay down your loans?

weis14
Posts: 48
Joined: Wed Dec 16, 2009 10:01 pm

Re: Poll: How much debt do you plan to exit law school with?

Postby weis14 » Thu Apr 01, 2010 12:36 am

wadeny wrote:I'm surprised by how many responded with $150K or less for the poll. Tuition is obviously high at most schools, but the COL is also insanely high. Unless people are opting for more lower-priced options, have a lot of $$$ saved up, are getting some good scholarships, etc., I have to imagine debt would creep closer to $200k in many cases. I guess not as much around here, though, which is great to see.


Two years ago when i first started thinking about law school, I would not have had concerns about 200k in debt. Luckily, I got nice scholarships from lower ranked schools. A lower ranked school with better scholarships is a better choice for me. I would have been very stressed out knowing that I was going that far into debt for school. 50k is no more than a nice car.

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84Sunbird2000
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Re: Poll: How much debt do you plan to exit law school with?

Postby 84Sunbird2000 » Thu Apr 01, 2010 12:41 am

A'nold wrote:
84Sunbird2000 wrote:No more than 75k (unless I go to BU....). If I got a firm job 2L (I could do it for a summer without feeling like I'd sold my soul) and made 15-30k that year, then I could get out of IUB with 10-25k in debt. W&M I'm guessing 35-50k. W&L about 40k. Worst case, I could still make 3 or 4k during the summers with a PI fellowship.

I know that going to the best school you get (at sticker) is the TLS advice, but I like less than triple-digit debt prospects.


If you aren't planning on going into biglaw and want to go into public interest/gov. work, why on earth would you use 2L summer $ to pay down your loans?


Because I have a wide range of interests, and I can't guarantee myself that I'll be in PI/Gov't for 10 consecutive years. By then I might be living in Sweden or in Faro, Yukon....who knows. PI/Gov't a hope/plan, but I really don't know what I'm going to be doing in 2023, and I think that's probably true of most people.

r6_philly
Posts: 10707
Joined: Sat Dec 19, 2009 4:32 pm

Re: Poll: How much debt do you plan to exit law school with?

Postby r6_philly » Thu Apr 01, 2010 12:49 am

I am mentally prepared to handle $2000 a month in repayments on top of the $500 a month I will be paying for UG debt. So $150k is my target. Unless I receive a named scholarship or two :)

dakatz
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Joined: Sat Mar 29, 2008 4:19 pm

Re: Poll: How much debt do you plan to exit law school with?

Postby dakatz » Thu Apr 01, 2010 12:51 am

It would be about 50K at most out of BU, and over 200K at Chicago. Debt scares me...




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